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Understanding State And National Growth Co-movement: A Study Of Shared Atm Networks In The United States

机译:了解州和国家增长的协同运动:美国共享Atm网络的研究

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Prior theoretical work on networks and technology standards suggests that network effects may be viewed as a source of busini value and an important element in the valuation of network goods.This study examines the co-movement between network growth the economy level and in various local markets.We perform an historical analysis of CIRRUS and PLUS,the two largest nationa shared electronic banking networks from the 1980s to the present day,as a means to study regional contagion effects in network grow We argue that that the perceived business value of a network or technology standard may exhibit spatial differences for firms operating different markets,and that this may influence aggregate patterns of network technology diffusion.We employ near vector autoregressi (NVAR),a variation of vector autoregression (VAR),as a means to gauge the strength of cross-market co-movement patterns.We al develop NVAR time-series models of the growth of CIRRUS and PLUS at the state and national levels,followed by the application o variance decomposition (VDC) technique that permits us to infer the presence of contagion effects.Our results suggest that the number account holders,the extent of education and tourism,network service coverage,and market concentration in local markets are drivers the observed state-to-nation co-movement.We also discuss the broader opportunities that are available for applying the methodolo that is presented,including some extensions that will permit the development of additional managerial and policy insights,and expansii to include other kinds of technologies.
机译:先前有关网络和技术标准的理论研究表明,网络效应可能被视为企业价值的来源,也是网络商品估值的重要因素。本研究考察了网络增长与经济水平以及各个地方市场之间的共同运动。我们对CIRRUS和PLUS(两个最大的国家/地区共享的电子银行网络,从1980年代至今)进行历史分析,以此作为研究网络增长中区域性传染效应的一种手段。我们认为,网络的感知业务价值或技术标准可能会针对经营不同市场的公司展现出空间差异,并且这可能会影响网络技术扩散的总体模式。我们采用向量向量自回归(VAR)的近似向量自回归(NVAR)作为衡量力量强度的一种方法跨市场合作模式。我们开发了州和国家级CIRRUS和PLUS增长的NVAR时间序列模型,例如受方差分解(VDC)技术的应用的启发,该技术可让我们推断传染效应的存在。我们的结果表明,帐户持有者的数量,教育和旅游的程度,网络服务的覆盖范围以及本地市场的集中度是驱动因素我们还将讨论可用于应用提出的方法的广泛机会,包括一些扩展,这些扩展将允许发展其他管理和政策见解,并且扩展包括其他类型的方法。技术。

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